As Peter Lynch was fond of saying - It is notoriously difficult for companies with no debt to go bankrupt.
The share price and the P&L are not the same thing.
This share price assumes a doomsday scenario, well below value of hard assets. This could be a wonderful opportunity if the board are able to take decisive steps.
I am not sure what is driving the current hysteria, but if it is (as some posters have suggested) that Glencore are spreading market rumours to strengthen their hand - I would be in favour of the board walking from the Glencore deal. It seemed like a great coup when it was announced, but Ivan Glasenbergs reputation is well earned, and our boatd should have known they were doing a deal with a fox.
Longer term we would be better off with a strategically aligned customer.
General Discussion Banter GLN, page-14442
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Last
17.0¢ |
Change
0.005(3.03%) |
Mkt cap ! $80.57M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.5¢ | $479.0K | 2.861M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 848959 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 312986 | 3 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| GLN (ASX) Chart |